Trust Wallet launches Stablecoin Earn, with Morpho as the default lending solution

Trust Wallet has grown into one of the world’s most widely used self-custody wallets, with over 200 million people trusting it to store assets, access onchain apps, and interact across dozens of blockchains. For many users, it serves as their daily portal into the onchain world—from onramping into crypto to buying NFTs and executing trades.

However, Trust remains a tool, not the destination.

A key piece was missing: earning yield.

Stablecoins like USDC and USDT are among the most popular assets held in Trust Wallet, yet most sat idle. While the DeFi ecosystem offered yield opportunities, these were often complex, fragmented, or carried hidden risks. Traditional earn products during 2021 and 2022 relied on opaque centralized intermediaries—the same model that collapsed with players like Celsius, BlockFi, and Genesis.

This created both a challenge and opportunity for Trust Wallet: how to activate billions of dollars of idle stablecoins while staying true to its non-custodial philosophy, offering a solution that was simple enough for everyday users yet transparent, verifiable, and safe.

To solve this, Trust Wallet launched Stablecoin Earn — a new in-app feature that allows users to deposit stablecoins like USDC, USDT and begin earning directly from within the wallet.

At the heart of this product is Morpho, which became the default yield engine for Trust Wallet’s Earn hub. Instead of routing deposits to centralized lending desks, user funds flow into Morpho Vaults curated by Steakhouse and Gauntlet, where capital is allocated across decentralized lending markets. Borrowers pay interest, and those payments are distributed transparently back to Trust Wallet users — all traceable onchain.

Crucially, the user experience is abstracted away from the complexity of DeFi. To the end user, it feels like tapping a few button to “deposit and earn.” Behind the scenes, Trust Wallet relies on Morpho to power the earn feature.

• Users remain in full custody of their assets at all times.
• Everything is auditable onchain, reinforcing trust and eliminating counterparty risk.
• Select vaults even come with MORPHO token rewards, further boosting yields.

The integration launched across multiple chains — including Ethereum and Base — making it accessible to the broadest possible base of Trust Wallet users.

The response was immediate.

Within the first week of launch, users deposited nearly $18 million into Trust Wallet’s Stablecoin Earn. Within the first month, total deposits already exceeded $50 million. This rapid adoption showed the enormous demand from Trust Wallet users for a simple, self-custodial way to put their stablecoins to work.

For Trust Wallet, the integration is part of its strategy to transform the app from being just an access point into a more complete financial app — users can not only buy, swap, and store assets, but also earn on them without leaving the wallet. It has also deepened engagement: users now open Trust Wallet not only to check balances or interact with other apps, but also to monitor earnings and manage yield positions.

This integration has set a new standard for consumer-facing earn products in Web3. By combining Trust Wallet’s massive distribution and intuitive interface with Morpho’s transparent, onchain infrastructure, Stablecoin Earn delivers the best of DeFi without the complexity.

For users, it means their stablecoins are no longer idle. For Trust Wallet, it cements its role as a daily driver app in crypto — one that makes self-custody practical, rewarding, and future-proof.